Delaware Termination of Residential Lease


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                             This Termination of Residential Lease agreement may be used to terminate a lease upon
                             mutual agreement by both the landlord and the tenant. This agreement effectively ends the
                             lease on the condition that the tenant returns the premises in good condition and the
                             landlord returns the tenant's security deposit. It contains the standard provisions that are
                             commonly included in these types of agreements as well as opportunities for customization
                             to fit the specific needs of the parties. This document should be used by landlords and
                             tenants located in Delaware when mutually agreeing to terminate a lease.

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                            TERMINATION OF RESIDENTIAL LEASE

_____________ __________________ [Instruction: Insert the name of landlord or manager
(if applicable)] (“Landlord”) and ____________________________________ [Instruction:
Insert the name of tenant] (“Tenant”).


WHEREAS Landlord has entered into a certain Residential Lease with Tenant dated ______
[Month] ____ [Date], 20____ [Instruction: Insert the date of Residential Lease Agreement]
(the “Lease”) for the premises located at ____________________________________________
[Instruction: Insert the address of the Premises] (the “Premises”);

WHEREAS, Tenant and Landlord wish to end their relationship and mutually agree to terminate
the Lease forthwith;

NOW THEREFORE, in consideration of the mutual covenants and recitals, Landlord and
Tenant hereby acknowledge that the Lease in favor of Tenant is terminated effective on ____
[Month] ____ [Date], 20____ conditional upon the following:

1. Premises: The Premises being returned to Landlord is in good and clean condition,
   undamaged and restored to the original condition of the Premises that existed at the
   commencement of the Lease, normal and ordinary wear and tear excepted.

2. Security deposit: Landlord holds Tenant’s security deposit of ____________ ($____)
   [twenty thousand dollars ($20,000)] [Instruction: Insert the security deposit amount]. If
   the Tenant fulfills the obligation under clause 1 and obligations under the Lease, then
   Landlord shall return the security deposit within Twenty (20) days of the expiration or
   termination of the rental agreement under Delaware [STATUTE]. Landlord reserves the right
   to use the security deposit for the purposes set forth in the Lease.

3. Representation and Warranty: Tenant represents and warrants to Landlord as follows:

    a. Tenant has the right and authority to enter into this agreement;

    b. Tenant has complied with all obligations under the Lease, and will continue to comply
       with all of such obligations until the effective date of termination.

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4. Other terms:

    [Comment: Kindly write any special terms discussed and agreed between Landlord and
    Tenant in the above space, otherwise delete section 4.]

5. Counterparts: The parties acknowledge and agree that this Agreement may be executed and
   effectuated through transmission of signed facsimiles or imaged documents (e.g., .pdf, .jpeg,
   or .tiff) attached to emails, and in counterparts, and shall be binding upon the parties as if
   they were original documents.

[Comment: This section 5 is not required, but the parties may use it if they so wish]

IN WITNESS WHEREOF, the parties hereto have set and subscribed their respective hands
unto this Agreement on the day and date first set out hereinabove.


Signed: _________________________________

Name: __________________________________


Signed: ________________________________

Name: _________________________________

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